Royal Bank of Canada Boosts Wayfair (NYSE:W) Price Target to $65.00

Wayfair (NYSE:W) had its price target lifted by Royal Bank of Canada from $61.00 to $65.00 in a research note published on Monday, Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other brokerages have also weighed in on W. Needham & Company LLC reiterated a buy rating and issued a $75.00 price objective on shares of Wayfair in a research report on Thursday, May 2nd. Mizuho initiated coverage on Wayfair in a research note on Tuesday, March 19th. They set a buy rating and a $72.00 price target on the stock. TD Cowen upped their price target on Wayfair from $55.00 to $58.00 and gave the stock a hold rating in a research note on Friday, May 3rd. Loop Capital upped their price target on Wayfair from $55.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, April 2nd. Finally, Raymond James upgraded Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target on the stock in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wayfair currently has a consensus rating of Moderate Buy and an average price target of $77.29.

Wayfair Stock Performance

Shares of Wayfair stock opened at $68.21 on Monday. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of -12.73 and a beta of 3.32. Wayfair has a fifty-two week low of $33.85 and a fifty-two week high of $90.71. The stock has a 50 day moving average of $60.70 and a 200 day moving average of $55.73.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Analysts forecast that Wayfair will post -3.37 EPS for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the transaction, the chief operating officer now owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Wayfair news, insider Steven Conine sold 8,300 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $52.31, for a total transaction of $434,173.00. Following the transaction, the insider now owns 259,073 shares of the company’s stock, valued at $13,552,108.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $59.72, for a total value of $1,194,400.00. Following the transaction, the chief operating officer now directly owns 116,622 shares in the company, valued at approximately $6,964,665.84. The disclosure for this sale can be found here. Insiders have sold a total of 94,964 shares of company stock worth $5,884,066 over the last ninety days. Corporate insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverview Trust Co acquired a new stake in Wayfair in the first quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Wayfair during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new stake in shares of Wayfair during the 4th quarter valued at approximately $31,000. BluePath Capital Management LLC acquired a new stake in shares of Wayfair during the 3rd quarter valued at approximately $34,000. Finally, ORG Partners LLC acquired a new stake in shares of Wayfair during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.